May 29, 2020

CBN target driving agribusiness through 50bn credit facility, interest rate cut

It’s been a strenuous time globally as a result of the pandemic that has engulfed nations, some developed countries have found ways to contain the effect of Covid- 19, with evidence of decreasing cases. In other developing countries, the virus is resurging or continuing to spread quickly. This is still a global problem calling for […]

May 28, 2020

NGO to hold summit for francophone African SMEs

In the midst of the COVID-19 pandemic and its consequent global economic crisis on small businesses on the African continent, the GreenTec Capital Africa Foundation, together with the French Development Agency, will hold a summit which seeks to support and encourage the growth of startups in francophone African countries. The GreenTec Capital Africa Foundation (GCAF) […]

May 28, 2020

CBN reduces interest rate on OFIs facilities to 5% per annum

In an effort to alleviate the impact of coronavirus pandemic on businesses, houses holds and regulated institutions, The Central Bank of Nigeria has said it is giving a one-year moratorium on all principal repayments for COVID-19 intervention loans through its participating Other Financial Institutions with effect from March 1, 2020. The apex bank said this […]

May 27, 2020

Tech Committee outline road map for tomato value chain – SON

In advancement of the Federal Government’s economic diversification policy, the Standard Organisation of Nigeria, SON, and the Technical Committee on Fruits and Vegetable Products are now working on an implementation of the draft codes of practices for the tomato value chain from planting, harvesting, processing and transportation to Storage. Director-General, SON, Osita Aboloma, stated in […]

May 27, 2020

CBN says the Interest on SME loans hit nine per cent

The Interest rates on loans to the Small and Medium Enterprises to cushion the effects of the coronavirus on their operations introduced by the Central Bank of Nigeria will rise to nine per cent from five per cent in March 2021. The CBN disclosed this in its guidelines for the implementation of the N50bn Targeted […]

May 26, 2020

Experts persuade the FG to scale stimulus package for economic revamp

To lighten the effect of COVID-19, financial experts have advised the Federal Government to go beyond the 3.83 per cent aggregate stimulus response for Nigeria economy. They urged authorities to increase support for the Small and Medium Enterprises (SMEs) that constitute over 70 per cent of the economy to keep them afloat. The experts made […]

May 25, 2020

Nigeria’s non- oil sector weakens as GDP expands by 1.87% in Q1 2020

During the first quarter of 2020, Nigeria’s Gross Domestic Product (GDP) grew by 1.87%(year-on-year) in real terms. This performance was recorded against the backdrop of significant global disruptions resulting from the COVID-19 public health crisis, a sharp fall in oil prices and restricted international trade. The performance recorded in Q1 2020 represents a drop of […]

May 25, 2020

NAFDAC offers 80% tariff reduction to register small businesses as a result of the pandemic

The National Agency for Food and Drug Administration and Control, NAFDAC, the weekend rolled out palliatives for the Micro and Small businesses including 80 percent tariff reduction for registration as part of compliance with the Executive Order on the Ease of Doing Business as well as a proactive response to the challenges of COVID-19 pandemic. […]

May 25, 2020

Poultry farmers cry out as closure of hotels threaten their businesses

Outcries have risen from farmers in the poultry and fishery industries as they lament over the continued closure of hotels, drinking joints and other entertainment spots where their products are sold. They say the situation has taken a toll on their business. They are calling on the Federal Government to revive the Growth Enhancement Support […]

May 22, 2020

Nigeria’s Helium Health raises $10M Series A for Africa expansion

A promising Nigerian startup Helium Health sits in a good position during a difficult period, according to its co-founder. The Lagos based healthtech venture is in the black, has batted away acquisition offers, and just raised a $10 million Series A round, CEO Adegoke Olubusi told TechCrunch. The startup offers a product suite that digitizes […]

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